Halliburton Posts 1st Loss in 66-Year History

Dallas-based Halliburton reported a net loss of $474.8 million for the second quarter ended June 30 because of non-recurring after-tax charges totaling $523 million--the first loss in the company’s 66-year history.

The charges included $195 million for a write-down of marine construction vessels and related investments and $328 million for the anticipated settlement of litigation relating to a Texas nuclear project.

Excluding these charges, net income for the quarter totaled $48.2 million, down 48% from the previous year’s quarter.